The Illinois Retail Merchants Association said Friday that it’s “heartened” by the ruling.
Rob Karr, the association’s president and CEO, said in a statement that “the judge clearly states credit card networks like Visa and Mastercard must comply with this law, which will provide tangible relief to Illinois families and retailers by limiting the fees that can be charged on the tax and tips portion of transactions.”
“This is a win for consumers and Main Street businesses, and we thank Gov. JB Pritzker, Senate President Don Harmon, House Speaker Emanuel ‘Chris’ Welch and lawmakers for recognizing that out-of-control swipe fees are unfair and unjust,” Karr said.
Meanwhile, the American Bankers Association, Illinois Bankers Association, America’s Credit Unions, and the Illinois Credit Union League said in a joint statement that they “welcome” the ruling.
“The injunction means that many Illinois consumers will be spared the chaos this law threatens to inflict on our modern payments system until the case can be heard, and that the court recognizes our ‘demonstrated likelihood of success’ on the merits of our National Bank Act claims,” the groups said Friday.
